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makvit [3.9K]
3 years ago
7

On May 1, Melany contributed $7,000 and property, with an adjusted basis of $9,500 and a FMV of $11,500, for a 15% share of part

nership Joseph's Jamboree. What is her beginning basis
Business
1 answer:
deff fn [24]3 years ago
6 0

Answer:

her beginning basis is $16500.

Explanation:

basis of partnership

= money contributed + adjusted basis of equipment contributed

= $7000 + $9500

= $16500

Therefore, her beginning basis is $16500.

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